| |
 |
MOBILITY
ELECTRONICS, INC. (Nasdaq/NMS: MOBE) |
 |
Dear Reader,
Today we have some exciting news from Mobility Electronics, a
company StockUpTicks has been following since March (to
read our complete, archived profile, click
here). Mobility released its second quarter 2003 earnings
today and followed up with a conference call featuring the CEO
and the CFO.
In case you've forgotten, Mobility is a leading developer and
marketer of solutions for the mobile computing user. Today's news
that the company had made tremendous strides in its Q2 period
by developing stronger and more widespread distribution lines
was a good indicator the company's business plan is proving itself
out. We like companies that do what they say they're going to
do, don't you?
As a provider of mobile computing solutions for the notebook
computer, PDA (personal digital assistant), pocket personal computer
(PC), tablet PC, smartphone and other mobile computing devices,
Mobility has the attention of the 'Big Boys' in the retail computer
accessory game and we encourage you to take a look at what this
outstanding company has achieved. We think you'll be impressed!
|
TODAY'S
NEWS FROM MOBILITY ELECTRONICS |
|
Mobility
Electronics Reports 96% Increase
in Second
Quarter Year-Over-Year Revenues
Tuesday July 22, 4:05 pm ET
HIGHLIGHTS
* Revenues
increase to $13.1 million, exceeding guidance
* Over 80,000
units of Juice shipped in second quarter; over 250,000 units
on order
* Major
strategic distribution arrangements signed with Kensington and
Fellowes
* Juice
launched in 3,500 RadioShack Stores in US; additional 800 stores
in North America to launch in Q3
* Comarco patent
dispute settled
SCOTTSDALE, Ariz., July 22 /PRNewswire-FirstCall/ -- Mobility
Electronics, Inc. (Nasdaq: MOBE - News), a leading provider
of innovative portable computing solutions for the mobile computer
user, today reported financial results for the second quarter
ended June 30, 2003. Revenue was $13.1 million in the second quarter
of 2003, an increase of 96% over revenue of $6.7 million in the
second quarter of 2002, and an increase of 10% over revenue of
$12.0 million in the first quarter of 2003.
"This marks the fourth consecutive quarter
in which our revenues have increased over the previous quarter."
Charlie Mollo, President
and Chief Executive Officer of Mobility Electronics
For a current quote on MOBE, click
here
To view the SEC filings for MOBE, click
here
To read the entire release, including selected Q2 financial
data and the Safe Harbor, click
here
|
OUTLOOK
FROM TODAY'S Q2 PRESS RELEASE |
|
Mobility expects revenues to be approximately $14 million
in the third quarter of 2003 and approximately $15 million
in the fourth quarter. For the full year 2003, the Company
continues to expect revenues to increase by at least 70%
over 2002.
Revenue in the second half of 2003 is expected to be positively
impacted by the domestic launch of the Kensington-branded
version of Juice in the third quarter, the subsequent
European launch in the fourth quarter of 2003, a
domestic launch by Fellowes in the fourth quarter of
2003, and continued traction in 4,300
RadioShack stores in the United States and Canada.
With the additional revenue growth, stable gross margins and
reduced operating expenses projected, Mobility expects continued
improvement in bottom line performance in the third quarter of
2003. Continued revenue growth in the fourth quarter of
2003 is expected to result in positive net income, followed
by at least 50% year-over-year revenue growth in 2004.
To hear today's Mobility Electronics
2003 Q2 Earnings Conference Call, click
here
 Speakers:
Charlie Mollo, President and Chief Executive Officer
Joan Brubacher, Executive Vice President and Chief Financial
Officer
Available Formats: 
Windows Media
(click
here if you need to download Windows Media Player)
|
TODAY'S
Q2 PRODUCT HIGHLIGHTS |
|
|
Juice
TM
Combination AC
and auto/air notebook power adapter.
The only all-in-one
mobile power adapter connecting notebooks plus a mobile
phone or handheld simultaneously to any power source.
|
|
The following are the notable second quarter
highlights in each product area:
Power Products
*Sales
of power adapters, which include the Company's Juice product,
grew 35% on a sequential quarter basis. Sales of
batteries decreased for the same period, resulting in overall
growth in power product sales of 18% on a sequential quarter basis.
Power products now represent 47% of overall company sales.
*Over
80,000 units of Juice, the new all-in-one power adapter, were
shipped to a broad range of customers.
*Sell-through
for Juice has exceeded the Company's expectations and re-orders
have been received from numerous customers, including Apple
Computer, RadioShack,
and many others.
*As planned,
Juice was in approximately 5,000 retail locations by the
end of the second quarter of 2003.
*The
distribution channels for Juice were significantly expanded through
the addition of major OEM, retailer and reseller accounts, and
the establishment of major partnerships with Kensington,
Fellowes and RadioShack.
*The
current Juice backlog and commitments for future quarters
exceeds 250,00 units, at least 100,000 of which are expected
to ship in the remainder of 2003.
Enhancement Products for
Handheld Computing,
PDA and Mobile Phone Devices
*Handheld
hardware and software product sales grew by 23% on a sequential
quarter basis, and now represent about 31% of overall company
sales.
*The
Company's intelligent PDA cradles continue to be received
well in vertical markets such as industrial automation and pharmaceutical
field trials,
and sales increased by 78% over the previous year.
*Additional
agreements were signed to bundle the Company's Quickoffice
software with new smartphones. Mobility's software is
now included in the offerings of Kyocera,
Handspring, AlphaSmart,
Samsung and Synchrologic,
among several other notable technology companies.
*The
Company's Mobilefile software won the distinguished "Palm OS(R)Powered
Up Award" from PalmSource.
Expansion and Docking Products
*Expansion
and docking products represented 12% of revenue in the quarter.
*The
7 Slot 64-bit/66MHz PCI Expansion System was introduced, which
will enhance the Company's ability to penetrate the server
and storage markets.
"We make mobile computing easier."
|
FOR MORE INFORMATION CONTACT |
|
Joan Brubacher, CFO
Mobility Electronics, Inc.
408.596.0061
Public Relations: Julia Kroner
of Mobility Electronics, Inc., 480.477.3583, jkroner@mobl.com
Mobility Electronics products are available directly via the
company's award-winning website ( www.igo.com
)
as well as through the company's global distribution base of
leading resellers, retailers and OEM partners.
For additional information on Mobility Electronics' products
and services, call 480.596.0061,
or visit its Web site at www.mobilityelectronics.com
Want
to feature YOUR company to over 1 MILLION investors?
Click
here to
learn more about our programs or email us directly at info@stockupticks.com
Stockupticks
Safe Harbor Statement: Statements contained in this document,
including those pertaining to estimates and related plans, potential
mergers and acquisitions, estimates, growth, establishing new markets,
expansion into new markets and related plans other than statements
of historical fact, are forward-looking statements subject to a
number of uncertainties that could cause actual results to differ
materially from statements made. StockUpTicks.com is a property
of Market Pathways Financial Relations Incorporated (MP).
MP provides no assurance as to the subject company's plans or ability
to effect any planned and/or proposed actions. MP has no first-hand
knowledge of management and therefore cannot comment on its capabilities,
intent, resources, nor experience and makes no attempt to do so.
Statistical information, dollar amounts, and market size data was
provided by the subject company and related sources believed by
MP to be reliable, but MP provides no assurance, and none is given,
as to the accuracy and completeness of this information.
Disclaimer:
StockUpTicks.com is a property of Market Pathways Financial Relations
Incorporated (MP). The information, opinions and analysis
contained herein are based on sources believed to be reliable
but no representation, expressed or implied, is made as to its
accuracy, completeness or correctness. Past performance
is no guarantee of future results. This report is a paid advertisement
and is for information purposes only and should not be used as
the basis for any investment decision. MP
has been paid $22,250 for preparation and distribution of this
report and other advertising services.
This constitutes a conflict of interest as to MP’s ability
to remain objective in its communication regarding the subject
company. Write or call MP for detailed disclosure as required
by Rule 17b of the Securities Act of 1933/1934. MP is not
an investment advisor and this report is not investment advice.
This information is neither a solicitation to buy nor an offer
to sell securities but is a paid advertisement. Information
contained herein contains forward-looking statements and is subject
to significant risks and uncertainties, which will affect the
results. The opinions contained herein reflect our current
judgment and are subject to change without notice. MP and/or its
affiliates, associates and employees from time to time may have
either a long or short position in securities mentioned.
Information contained herein may not be reproduced in whole or
in part without the express written consent of Market Pathways
Financial Relations Incorporated.
|
|
